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CSPAN
Apr 13, 2013 7:00am EDT
month. >> he will not negotiate around the debt ceiling. >> thank you for your testimony to date. on want to talk about the president's proposal but on the question of the death and how we arrived at this moment in time am i correct or is it fair to say that the 2001 bush tax cut that was not paid for at the time by this congress come add to this country's debt burden? >> there were two wars that were not paid for and a prescription drug plan was not paid for. >> as a result of the collapse of the economy in 2008 we took a $22 trillion hit, by some object of estimates necessitating a substantial bailout by this congress by financial institutions and a similar package, both of which presumably also added to our debt burden. is that correct? as it relates to the forward-looking plan, that you articulated that 5 believe would total $4.3 trillion in deficit-reduction over the next, it does seem to be a forward-looking plan, my suggestion to the contrary, what very peculiar situation as it relates to our recovery under the president's administration, six million private-sector jobs th
CSPAN
Apr 11, 2013 8:00pm EDT
yesterday that focused on the debt ceiling in terms of the possibility of obligations, ur obligations all emanating from congressional actions. we cannot continue on this dangerous path. hopefully this hearing will serve a constructive opportunity to embrace a different path. i yield back. >> thank you so much, mr. levin. again,s this my pleasure to welcome secretary jack lew back to the committee on ways and means. we look forward to your testimony. the committee received your written statement t will be made part of the formal record and secretary lew, you're recognized for five minutes. >> thank you very much, mr. chairman and thank you, mr. chairman, ranking member levin for your gracious welcome here today. it's an honor to appear and present the president's budget for next year. i sit here as chairman noted surrounded by four decades of memories of many important occasions when bipartisan cooperation has moved the country forward in the best interest of the american people. i sit here today looking forward to continuing in that tradition this year and in my current role. our economy
CSPAN
Apr 14, 2013 10:30am EDT
will not negotiate around the debt ceiling. you for your testimony to date. i want to spend some time talking about the presidential proposal. on this question of debt and how we are right, is it fair to say that the 2001 bush tax cuts but was not paid for at the time by this congress added to this country's debt burden? >> there were two wars that will were not paid for. >> as a result of the collapse, andook a $22 trillion hits necessitated a substantial bailouts by this institution. both of which added to our debt burden. is that correct? to the fourates were looking plans that you it does seem to me to be forward-looking plan despite suggestions to the contrary. we are in a very peculiar situation as it relates to our recovery under the administration. it has 6 million private sector jobs that have been created. we have corporate profits at a double high. we have saw market at near all- time highs. the productivity of an american worker is at an all-time high. highloyment remains itself. we have somet economic indicators that seem to suggest we're doing well but others suggest we have a ways to
CSPAN
Apr 11, 2013 12:00pm EDT
without a lot of trauma drawn on and on time. the debt ceiling issue approaching as later this summer we have an opportunity. the house is going to move now and put its priorities in place in the senate what do they agree or not we are going to move now and early to reassure people america will pay its debt but to reassure investors and those watching we are serious about tackling our problems. >> host: has sequestration affected your district? >> guest: it hasn't and in fact we talked in our town hall meetings we do a lot of them, people just sort of kind of laughed when we talk about a 500 lb government being forced to lose 10 pounds. people know it's just a small step. they are upset that it looks like the white house is choosing to inflect political pain on the community such as closing local air-traffic towers but for the most part, they think it is a small but important step in the right direction. >> host: was it a political victory for republicans? >> guest: i think it helped reassure americans that we were serious about making some small but important steps in the right directio
CSPAN
Apr 11, 2013 1:00pm EDT
of what we call the debt ceiling which lets the country borrow money to pay its bills. as a part of that agreement, a large number of people from both parties voted for something that hasn't turned out very well. and it's called sequestration. this is a word that gets tossed around in this chamber. it is having a real and negative impact on the country. i just came from a hearing of the armed services committee where the chairman of the joint chiefs of staff and the secretary of defense told us that nine battle groups and three bomber groups of our air force and our navy planes have been grounded. about 1/3 of the nation's air capacity isn't flying. across the country today, people who are on medicare, who need chemotherapy treatments from their doctors offices are finding that many doctors are declining to do chemo therapy treatments for cancer patients because of the cuts that take place in sequestration. i met earlier this week with employees of the naval sea systems engineering command in philadelphia whom i represent. they're looking at a 20% pay cut because of furloughs. th
CSPAN
Apr 12, 2013 2:00pm EDT
, the debt ceiling is something that is necessary for the operations of government. we will bring a bill forward that will ensure that we do not go into default, but i do think that we should be mindful of how we are going to tell the public we are going to go into the future and pay off these debts. the gentleman has many children and grandchildren. he does not want his kids, nor do i want mine to be shouldering the debt and paying our bills. really committing ourselves not to just borrowing more, not to just taking more from taxpayer dollars, because we have done a lot of that this year already. the gentleman talks about the need to proceed with revenues. we already have close to $650 billion of additional static revenues, taxes that are accounted for because of the fiscal clef deal. it is not that there are no revenues in the mix here. i look forward to working with the gentleman. i appreciate his commitment to longevity in the country, sustaining economic growth or restarting its the we can -- restarting its so that we can sustain it. i yield back. toi think finding a way invest in t
Search Results 0 to 5 of about 6